Global Stock Managers on Guard as China Pain Set to Spread
- Miners, luxury, industrials seen vulnerable to China slowdown
- Money managers seek to hedge China risks as slump deepens
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Global stock managers are bracing for pain as China’s dramatic slowdown undermines the prospects for companies elsewhere that rely on the world’s second-largest economy.
Once the most promising bet of the year, investments linked to China have turned into a bane as its property market slump risks spiraling into a systemic crisis. While the selloff so far has been concentrated in Chinese shares, pressure is rising for stocks in Europe, the US and other parts of Asia, whose businesses are swayed by demand in China.